MRC Global Reports Profitable Q2 FY2023 Results with USD 871.0 Million in Total Revenue
August 18, 2023
☀️Earnings Overview
On August 7 2023, MRC GLOBAL ($NYSE:MRC) reported its earnings results for FY2023 Q2, with total revenue of USD 871.0 million and net income of USD 24.0 million. Year-on-year, total revenue had increased by 2.7%, while net income had grown by an impressive 71.4%.
Share Price
On Monday, MRC Global released their financial results for the second quarter of the fiscal year 2023. The stock opened at $11.2 and closed at the same price on Monday, which was 0.2% lower than the closing price of $11.2 the previous day. The company was able to leverage their extensive portfolio of products and services to capitalize on opportunities in the marketplace. MRC Global’s strong balance sheet and disciplined approach to capital and investments have helped them increase their profitability.
The company’s strong financial performance reflects their commitment to delivering value to shareholders and their ability to adapt quickly to changing market dynamics. With a strong balance sheet and disciplined approach to capital investments, MRC Global is well-positioned to continue to deliver value and profitability in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mrc Global. More…
| Total Revenues | Net Income | Net Margin |
| 3.53k | 79 | 2.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mrc Global. More…
| Operations | Investing | Financing |
| 33 | -9 | -13 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mrc Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2k | 1.21k | 9.38 |
Key Ratios Snapshot
Some of the financial key ratios for Mrc Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.4% | 349.8% | 5.0% |
| FCF Margin | ROE | ROA |
| 0.6% | 14.3% | 5.6% |
Analysis
At GoodWhale, we recently conducted an analysis on the wellbeing of MRC GLOBAL. Based on our independent Risk Rating, we find that MRC GLOBAL is a medium risk investment in terms of financial and business aspects. We have also detected 1 risk warnings in their balance sheet. We invite you to register with us to check it out and learn more about their current situation. Our analysis and insights will help you make the most informed decision when it comes to investing in MRC GLOBAL. More…
Peers
It competes with SMG Industries Inc, Subsea 7 SA, and Victory Oilfield Tech Inc, all of which are leading suppliers in the same industry. Each company has its own unique strengths and capabilities in the field of energy distribution.
– SMG Industries Inc ($OTCPK:SMGI)
SMG Industries Inc is an industrial goods and services company based in the United States. The company provides a variety of products and services to customers in the manufacturing, energy, aerospace, and defense industries. As of 2022, SMG Industries Inc has a market cap of 6.97M, which indicates that the company is worth just under 7 million dollars. Additionally, the company has a Return on Equity (ROE) of 7.21%, meaning that for every dollar of equity, the company earns seven cents. This suggests that SMG Industries Inc is performing well financially, and is making efficient use of its capital.
– Subsea 7 SA ($OTCPK:SUBCY)
Subsea 7 SA is a leading global provider of integrated subsea engineering, construction, and services for the offshore energy industry. With a market cap of 3.32 billion, Subsea 7 SA is one of the leading companies in the subsea engineering and construction services industry. The company operates in various sectors including oil and gas, renewable energy, and defense. Subsea 7 SA has a strong Return on Equity (ROE) of 1.56%, indicating the company’s ability to generate profits from its shareholders’ investments. Subsea 7 SA has a long track record of delivering high-quality services to its customers and is well positioned to continue to do so in the future.
– Victory Oilfield Tech Inc ($OTCPK:VYEY)
Victory Oilfield Tech Inc is an oilfield technology company that develops and manufactures equipment and technologies related to the oil and gas industry. The company has a market cap of 5.83M as of 2022, which indicates the value of the company as determined by the market. It also has a Return on Equity (ROE) of 0.92%, which is an important measure of how well the company is performing relative to its equity base. This indicates that Victory Oilfield Tech Inc is achieving reasonable returns for its shareholders, making it an attractive investment option.
Summary
MRC Global has reported solid financial results for FY2023 Q2, with total revenue of USD 871 million and net income of USD 24 million, representing an increase of 2.7% and 71.4% respectively. This marks a strong uptick in performance compared to the same quarter last year, indicating that MRC Global is well-positioned to continue to generate strong returns in the near future. Investors may be interested in the stock, as it is currently trading at a discount to its peers and presents an attractive risk/reward opportunity. Furthermore, MRC Global’s efficient capital allocation strategies and robust balance sheet could pave the way for further gains going forward.
Related Posts
Recent Posts
